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(310)918-5027
Real Estate Company
608 Esplanade, Redondo Beach, CA 90277
- $4,850,000
- Sold Price
- $4,850,000
- List Price
- $5,000,000
- Closing Date
- Mar 14, 2025
- Status
- CLOSED
- MLS#
- SB25021284
- Year Built
- 1956
- Lot Size
- 9,639
- Acres
- 0.22
- Lot Location
- Landscaped
- Days on Market
- 15
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
Property Description
Incredible opportunity to own a rare ocean view generational asset on the Esplanade in Redondo Beach. First time on the market in over 40 years, this huge 7 unit (plus 1 non-conforming) apartment building offers over 7,000 square feet of rentable square footage on a nearly 10,000 square foot lot with 7 garage parking spaces. Enormous unique 2 story owner's unit loft style apartment with jaw-dropping ocean views, beamed ceilings, skylights, direct access elevator, large open concept kitchen, balcony, office, den, fireplace, wet bar, and 2 bathrooms. 6 other separately metered spacious apartments including one 2 bed/1 bath unit with ocean views, two 2 bed/2 bath units, and three 1 bed/1 bath units plus one non-conforming studio above the garages in the rear of property (check for ADU potential). Well priced on income for ocean front multifamily at 19X GRM on actual rents with a 30% upside to 14.8X GRM on market rents. Extremely well maintained property with very little deferred maintenance. Newer windows, clean units, and individual water heaters.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 8
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 7
- Gross Scheduled Income
- $259,320
- Operating Expense
- 111672
Listing courtesy of Listing Agent: Anthony Walker (Anthony.walker@buckinghaminvestments.com) from Listing Office: Buckingham Investments, Inc.
Listing sold by Romy Timm from The Realestate Group
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.